Currencies Direct

Yachting Brokers work in cooperation with other brokerage offices both at home and overseas. Buying a boat from outside the UK can be difficult and challenging with many risks involved. We strongly advise customers considering buying from abroad to contact us for free initial advice.

As well as being able to offer sales contracts in English and UK MCA Bill of Sales, we are able to save our purchasing customers up to 5% for currency transfers.

We are delighted to a Currencies Direct Affiliate which enables our customers to benefit from a range of services, many not available through regular sources.

Currencies Direct offer a range of services that includes:

Spot contracts
When you need to make a one-off transfer, ‘on the spot’, as it were, that’s where a spot contract comes in. It’s the quickest and easiest way to send money abroad, and there aren’t any hidden charges or transfer fees at all!

A spot contract allows you to agree an exchange rate (online or by phone) based on the current market rate. It’s what most customers use when they simply want to send money overseas, here and now.

The Currencies Direct helpful and friendly team will help you secure the best rate for your currency transfer. Once you send us your payment, we’ll send it straight to your overseas bank account.

Forward contracts
Sometimes the current exchange rate is too good to miss, but you don’t want to send your money just yet. This is the perfect scenario to arrange a forward payment. Essentially, this is what you go for when you’re keen on today’s rate, but your payment doesn’t need to happen right away.
By doing it this way, you are able to secure your currency at the rate you want, but you don’t have to make the payment for up to a year. This protects your finances from any fluctuations in the market, so we can make sure your high-value currency purchases are done with complete peace of mind.
To lock in your forward payment, we’ll ask you to pay a 10% deposit.

This is a perfect way to purchase a boat from overseas as the initial purchase contract for the boat can be used to lock-in the rate until all the paperwork and surveys are completed.

If you are buying a new boat that requires stage payments a Forward Contract also enables you to lock-in the rate for 12 months so you know exactly what each payment will be for the year, regardless what the exchange rate might do in the meantime

Other services include Limit Orders (so transfers are only made at an agreed rate) or Regular Transfers where set payments need to be sent. And of course you might need Travel Money.

To use the service you don’t need to be buying a boat through Yachting Brokers – maybe you have an overseas property that means funds need to be transferred on a regular basis or you just need a one off payment sent overseas.